YOFC(SH:601869)2019-04-26 16:00Financial Performance - Operating revenue decreased by 35.15% to CNY 1,598,780,588 year-on-year[5] - Net profit attributable to shareholders decreased by 31.89% to CNY 253,418,943 compared to the same period last year[5] - Basic earnings per share decreased by 40.00% to CNY 0.33 compared to CNY 0.55 in the same period last year[5] - The weighted average return on equity decreased by 3.82 percentage points to 3.04%[5] - Total revenue for Q1 2019 was CNY 1,598,780,588, a decrease of 35.1% compared to CNY 2,465,268,661 in Q1 2018[22] - The net profit for Q1 2019 was CNY 201,505,055, down 29.5% from CNY 285,692,514 in Q1 2018[25] - The total comprehensive income for Q1 2019 was CNY 197,059,083, a decrease of 26.6% from CNY 268,916,991 in Q1 2018[26] - The total profit for Q1 2019 was CNY 230,062,215, down 29.0% from CNY 323,815,936 in Q1 2018[25] Cash Flow - Net cash flow from operating activities was negative at CNY -378,768,963, worsening from CNY -265,842,115 in the previous year[5] - Cash outflow from operating activities increased by RMB 1.13 billion year-on-year, primarily due to decreased cash received from sales and increased cash paid for raw material purchases[12] - Cash outflow from investment activities increased by RMB 2.45 billion year-on-year, mainly due to significant cash payments for fixed asset purchases related to capacity expansion[12] - Cash inflow from financing activities increased by RMB 2.32 billion year-on-year, primarily due to new low-interest short-term borrowings[12] - Total cash inflow from operating activities was 1,546,745,770 RMB, while cash outflow was 1,925,514,733 RMB, resulting in a net cash flow deficit[28] - The company reported a net cash flow from investment activities of -546,845,247 RMB in Q1 2019, compared to -92,463,412 RMB in Q1 2018, indicating increased investment expenditures[31] - The cash flow from financing activities showed a net increase of 181,389,998 RMB in Q1 2019, compared to 55,966,948 RMB in Q1 2018, reflecting enhanced financing strategies[31] Assets and Liabilities - Total assets increased by 1.64% to CNY 13,097,262,209 compared to the end of the previous year[5] - Total current assets amounted to CNY 7,488,061,256, with accounts receivable at CNY 2,976,756,984, representing a significant portion of current assets[33] - Total non-current assets were reported at CNY 5,397,821,053, with long-term equity investments at CNY 1,626,151,304[33] - Total liabilities reached CNY 4,509,553,103, with current liabilities totaling CNY 3,350,029,309[34] - The company's total equity was CNY 8,376,329,206, with retained earnings of CNY 3,493,020,983[35] - The company has a total of CNY 1,159,523,794 in non-current liabilities, including long-term borrowings of CNY 817,000,000[34] Shareholder Information - The total number of shareholders at the end of the reporting period was 42,854[8] - The largest shareholder, China Huaxin Post and Telecommunications Technology Co., Ltd., holds 23.73% of the shares[8] Research and Development - The company reported R&D expenses of CNY 83,948,083, which remained relatively stable compared to CNY 83,677,853 in Q1 2018[22] - The company reported research and development expenses for Q1 2019 were CNY 57,805,691, slightly up from CNY 57,726,310 in Q1 2018[25] Market Strategy - The company plans to focus on R&D innovation and market expansion in the upcoming quarters[6] Inventory and Receivables - Prepayments increased by approximately RMB 711.3 million, a growth of about 76.94%, mainly due to increased inventory of raw materials and finished goods[10] - Other receivables rose by approximately RMB 847.6 million, an increase of about 62.51%, primarily due to receivables related to the disposal of fixed assets[10] - Other current assets increased by approximately RMB 1.6 billion, a growth of about 122.80%, mainly due to the purchase of financial products and reclassification of VAT receivables[10] - Inventory levels stood at CNY 995,149,268, indicating a robust stock position[33]